In its recent quarterly report, Chinese value retailer MINISO Group Holding Ltd. revealed a significant increase in both profit and revenues. The company's shares also experienced a boost of over 5 percent within Hong Kong's trading market. Furthermore, MINISO announced a forthcoming dividend.
The recorded profit attributable to equity shareholders rose to an impressive RMB635.81 million ($89.8 million), which reflects a 77.3 percent increase when compared to last year's RMB352.46 million.
The earnings per ADS (American Depositary Share) during this quarter was RMB2.04 or $0.29. That constitutes an 82.1 percent increase in comparison to the RMB1.12 earned in the same period of 2022. Meanwhile, the adjusted net profit hit RMB660.5 million or $93.0 million—up 77.0 percent year-on-year. The adjusted earnings per ADS were RMB2.12 or $0.30 compared to RMB1.16 in the previous year.
Furthermore, MINISO's revenue witnessed a 54 percent surge, increasing to RMB3.84 billion ($541.0 million) up from last year's RMB2.49 billion. This was largely due to a 55.7 percent rise in revenue from China and a 51.4 percent improvement in revenue from international markets.
On top of this, the company's board approved the distribution of a special cash dividend. This is represented by $0.2900 per ADS or $0.0725 per ordinary share and will be awarded to holders as of business close on March 28. The dividend is expected to be paid on April 9 to holders of ordinary shares, and approximately April 12 for ADS holders.
Looking at current trading, MINISO has reported an approximate 13 percent annual increase in gross merchandise value (GMV) for its offline stores in China for the two months ending February 29. For MINISO's international business, the GMV surged by around 40 percent year-on-year.
In terms of trading in Hong Kong, MINISO Group shares finished at HK$36.50, reflecting an increase of 5.34 percent.
